PROBLEM: You have followed all the steps, applied presets to your audio clip inside Premiere Pro and absolutely NO changes have been made to the sound of the audio.
SOLUTION: "Audio presets will behave oddly if you apply them to a clip that has different channel mapping than the preset was created for.
So if you create the preset using a mono clip, it won’t work correctly if you apply it to a stereo clip, or vice versa."
Note: All the presets from Music Radio Creative were created on stereo clips so won’t work on mono clips. The way to get the presets to work would be to ensure that your audio clip is stereo before applying the presets to it.